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- Release Date: 05/07/13 11:57
- Summary: MINE: CUE: Increased Interest in WA-389-P
- Price Sensitive: No
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CUE
05/07/2013 09:57
MINE
REL: 0957 HRS Cue Energy Resources Limited
MINE: CUE: Increased Interest in WA-389-P
RELEASE
(ASX: CUE; NZX: CUE; POMSOX: CUE; ADR/OTC: CUEYY)
Increased Interest in WA-389-P
Cue Energy Resources is pleased to announce that subject to the necessary
regulatory approvals, it has agreed to increase its interest from 35% to 40%
in WA-389-P in the Carnarvon Basin, Western Australia.
Cue has increased its participating interest as it sees significant remaining
hydrocarbon potential in WA-389-P. The permit is already substantially
covered by 3D seismic which will underpin continuing exploration of the
block.
BHP Billiton (Australia) Pty Ltd has also agreed to increase its interest to
60% in the permit and assume operatorship, subject also to the necessary
regulatory approvals. An application to renew WA-389-P will be submitted to
NOPTA prior to the end of July this year.
Participants in WA-389-P following renewal of the licence will be:-
Cue Exploration Pty Ltd 40%
BHP Billiton (Australia) Pty Ltd (operator) 60%
Any queries regarding the announcement should be directed to the company on
(03) 9670 8668 or email [email protected].
David Biggs
Chief Executive Officer 5 July 2013
End CA:00238251 For:CUE Type:MINE Time:2013-07-05 09:57:18
